World Tin Market

October 26, 1985|By Deanne Brandon

PRICE COLLAPSE. The London Metal Exchange has suspended indefinitely trading in tin after a collapse in the price of the metal. The International Tin Council said Thursday it had run out of money and was unable to continue buying tin to keep the price at a predetermined support level. After the ITC announcement, the price fell $426 to $11,559 a metric ton, its lowest level since early 1983. The ITC, composed of 22 countries that produce and consume tin, regulates production and attempts to stabilize prices.